By Raju Vernekar
Mumbai, Sept 7:
While the Union Government is in the process of privatizing public sector units (PSUs), the disinvestment in nearly 28 units across the country is expected to start soon, with Union Government trying to fetch maximum price.
While the date for securing bids for the national career Air India was extended four time, due to corona virus induced pandemic, the process of privatisation of some of the PSUs, is expected to begin soon.
The list of PSUs awaiting disinvestment, obtained under RTI runs as: Project and India Development Limited (PDIL), NOIDA, UP, Engineering Project India Limited (EPIL), Sion-Trombay Road, Mumbai, Maharashtra, Pawan Hans Limited, Juhu, Mumbai, Maharashtra, Bridge & Roof Company India Limited, Kolkata, West Bengal, Air India, Mumbai/New Delhi, Central Electronics Limited, New Delhi, Cement Corporation of India Limited(CCIL), Neemuch, Madhya Pradesh( Nayagaon unit), Indian Medicine and Pharmaceuticals Corporation Limited (IMPCL), Machhor, Uttarakhand and Salem Steel Plant, Tamil Nadu.
Visvesvaraya Iron and Steel Plant, Bhadrawati, Karnataka, Durgapur Steel Plant, West Bengal, Ferro Scrap Nigam Limited (FSNL), Bhilai, Chhattisgarh, NMDC Iron And Steel Plant, Nagarnar, Jagdalpur, Chhattisgarh, Bharat Earth Movers Limited, Bengaluru, Karnataka, HLL Lifecare (formerly Hindustan Latex Limited, Thiruvananthapuram, Kerala, Bharat Petroleum Corporation Limited (BPCL), Mumbai, Maharashtra, Shipping Corporation of India Limited (SCI), Mumbai, Maharashtra, Container Corporation of India Limited (CONCOR), New Delhi, Nilachal Ispat Nigam Limited, Jajpur, Odisha, Hindustan Prefab Limited (HPL), Jangpura A, New Delhi and Bharat Pumps and Compressors Limited (BPCL), Allahabad, Uttar Pradesh.
Scooters India Limited (SIL), Lucknow, Uttar Pradesh, Hindustan Newsprint Limited (HNL), Velloor, Kerala, Karnataka Antibiotics and Pharmaceuticals Limited (KAPL), Bangalore, Bengal Chemicals and Pharmaceuticals Limited (BCPL), Kolkata, West Bengal, Hindustan Antibiotics Limited, Pimpri, Pune, Maharashtra, Indian Tourism Development Corporation (ITDC), New Delhi and Hindustan Fluorocarbon Limited (subsidiary of HOCL), Hyderabad,Telangana.
The government has set the disinvestment target of Rs 2.10 lakh crore for 2020-21 fiscal year. As part of the “Aatmanirbhar Bharat” package, the Government has also announced opening up of all sectors for private participation.
In the meanwhile the NITI Aayog has suggested the central government to keep control over only 4 public sector banks, which include: State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank. Apart from this, the Commission has advised to privatize three small public sector banks Punjab and Sindh Bank, Bank of Maharashtra and UCO Bank on priority basis.
Other government banks (Bank of India, Union Bank, Indian Overseas Bank, Central Bank and Indian Bank) will either merge with the 4 remaining nationalised banks or reduce their stake. The government can limit its stake in these banks to 26%.
Now the number of nationalised banks has come down to 12 from earlier 27. It may be recalled that the decision to nationalise 14 banks was taken by the then PM later Indira Gandhi in 1970. Then another 6 banks were nationalised in 1980.
The government has been making credit supply to loss making public sector banks since long and has provided the credit supply to the tune of Rs 3.20 lakh crore during 2015-2020 to the loss making public sector banks.